Primedia upgraded to neutral at CSFB

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LONDON (CBS.MW) -- Credit Suisse First Boston upgraded Primedia, Inc.
PRM, -2.27%
to neutral from underperform, citing its belief that the advertising recovery is still in its early stages and that the company's fundamental outlook is improving. The broker noted the New York-based media company's revenues have stabilized, and are "now beginning to show signs of life after two years of declines." CSFB also said that "the magazine industry should benefit significantly from any economic recovery and political clarity that the past few months have brought."

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